Why Trump and not Paul?

Donald Trump led a gut-level attack on the Establishment. Listening to a Trump speech you didn’t learn economics or the philosophy of liberty; you only heard what you already knew: you were getting the shaft from the elites.

Ron Paul understands liberty and how it relates to economics, especially monetary theory, and attempted to educate Americans on some important points. Although his approach had strong appeal to young people it didn’t wake up enough older Americans to create a major movement.

And that was our loss. Is it too late? Maybe not.

Ron Paul rightly made the Fed a campaign issue. As I understand him, he sees the Federal Reserve as the institution most responsible for the decline of our civilization. Aside from government itself, I agree.

Main Street people don’t understand the Federal Reserve. They sometimes confuse it with the Treasury if they think about it at all. They have no idea what the Fed really does, other than adjust interest rates somehow. To them the Fed is a big black box, but evidently an important one. The FOMC gets together every so often and issues statements that are meaningful to a handful of people. It is Greek to the rest.

This is one way the Fed protects itself. If it were widely seen as a monopoly counterfeiter the legitimacy of government would collapse.